Wednesday, June 27, 2012

Govt prepares regulation to check revenue leakage

The government has prepared a
regulation to check revenue leakages.
Briefing the revenue evaluation meeting in the Finance Ministry, director
general of Revenue Investigation Department Janmajaya Regmi said that the
department has also prepared the operational guidelines to effectively plug
loopholes to check revenue leakages.
The meeting has also concluded that the government has to put in extra effort
to meet the revenue target as by the end of the 11th month, the government has
still been staring at a revenue shortfall.
The government has still been staring at a shortfall of Rs 960 million at the
end of the 11th month, according to the Finance Ministry that has been able to
mobilise Rs 210.96 billion by mid-June against the target of Rs 211.92 billion.
The shortfall has been reducing over the months but the recent bandhs and
strikes in different parts of the country has hit revenue mobilisation, said
finance secretary Krishna Hari Baskota, who also attributed the shortfall to
the low investment and non-tax revenue due to poor performance of government
entities.
"Only customs and income tax have exceeded the revenue mobilisation
target," the finance secretary said, directing the officials to improve
their performance to meet the revenue target by effectively mobilising the
flying squad to plug the loopholes, practical evaluation of customs, and
efficient monitoring.
Similarly, joint secretary Shantaraj Subedi also directed the officials to work
effectively to meet the revenue target of Rs 30.81 billion for the last month
of the current fiscal year.
"The customs offices in Birgunj, Bhairahawa, Biratnagar, Tribhuwan
International Airport, and dry port have started paying revenue through banks
making it easier for importers," informed acting director general of the
Customs Department Madhusudan Pokharel.
The heads of the other concerned departments also briefed the meeting of the past
performances and future programmes of their respective departments.